Reid Seaby, Agfarm Regional Manager WA
WA has been relatively quiet over the Christmas/New Year period, which is likely to continue through January as many are taking a well-earned break somewhere on the coast. While growers are taking an opportunity to get away, a lot are keeping abreast of grain markets to ensure they don’t miss any marketing opportunities for their unsold grain. Wheat basis continues to remain very strong, as it has right through the harvest period. This also isn’t likely to change anytime soon given the overstated carryover from last season’s crop. As a general rule WA growers are offloading their higher-grade wheat and looking to hold on to those grades that are currently trading at a discount.
Barley spreads have continued to tighten due to the decline in malt bids, but feed values remain buoyed by sustained buying from Chinese markets. This probably doesn’t come as a surprise to many given the malt spread has traditionally diminished post-harvest.
Prices as at Friday 5th January 2018